BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0221%/8h= −24.2% APRnext payment −$0.28 per $10,000 · paid last 24h −0.008%

Price spread now: Extended against Kraken Futures−0.069%7-day average +0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs+$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$340.344% of the position

Long on Kraken Futures Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.930%+$93 on $10k

Price spread, last 3 days (all we have)+0.192%+$19 · spread now −0.069%, 7d avg +0.004%

Together, before fees+1.121%+ Points / potential airdropExtended: Active · farm board+$112 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Extended is 0.074% cheaper against Kraken Futures than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.004%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.930%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BRENTOILUSD	96.859	0.0253	pay 0.0032% / 1h	58m 41s	$83K	$219K	20x
Short	Extended XBR-USD	96.792	0.0032	get 0.0004% / 1h	58m 41s	$700K	$5.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee ExtendedbpOrdersPrice spread, now −0.069%Rate

Funding earned: −$46.39
Price spread: −0.069% → +0.004%: −$7.38
Slippage, 4 orders: −$19.4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$88.17
Costs to cover: 0.344%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 9 min ago; Extended: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Kraken Futures live order book, 9 min ago	3.72 bp	12.3 bp −$12	20.8 bp −$208	doesn't fit	doesn't fit
Sell Extended live order book, 5 min ago	0.05 bp	2.6 bp −$3	16.3 bp −$163	doesn't fit	doesn't fit

BZ on 31 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BRENT/USDC PERP	−0.0220%	1h	95.731	−1.165%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.650	−0.216%	$234K	$440K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.825	−0.035%	$336K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.809	−0.052%	$146.0M	$400.0M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.790	−0.072%	$10.4M	$15.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.770	−0.092%	$15.9M	$24.0M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.796	−0.066%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.760	−0.103%	$9.2M	$12.6M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.810	−0.051%	$27.7M	$16.9M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.668	−0.198%	$9.3M	$7.4M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BZ_USDT_Perp	0.0000%	4h	96.660	−0.206%	$24K	$366K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.870	+0.011%	$4K	$2.6M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.880	+0.021%	$103K	$271K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.700	−0.165%	$308K	$222K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.870	+0.011%	$1.2M	$93K	100x	as long as short
BloFin BZ-USDT	+0.0005%	4h	96.840	−0.020%	$1.5M	$91K	50x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.382	+0.539%	—	—	—	as long as short
edgeX BZUSDC	+0.0015%	4h	96.699	−0.166%	$221K	$233K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.800	−0.061%	$3.3M	$4.3M	20x	as long as short
Extended XBR-USDshort	+0.0032%	1h	96.792	−0.069%	$700K	$5.3M	10x
Vest BZ-PERP	+0.0046%	1h	100.84	+4.110%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0046%	8h	96.799	−0.062%	$3K	$521	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.823	−0.038%	$151.8M	$138.2M	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.810	−0.051%	$3.1M	$1.1M	15x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0066%	1h	96.885	+0.026%	$1.5M	$506K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.840	−0.020%	$3.8M	$918K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.740	−0.123%	$25K	$272K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0136%	1h	96.820	−0.041%	$33K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0202% / S +0.0120%	1h	96.845	−0.015%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSDlong	+0.0253%	1h	96.859	long leg	$83K	$219K	20x
Aftermath Perps BRENTUSD	+0.0317%	1h	96.732	−0.132%	$7K	$44K	5x	as long as short